It is a tough decision for sure. The only thing I will suggest is that you forget what you lost. Make the decision based upon today and the future. You can't go back and undo anything.
Personally, I put some money into index funds every paycheck. Partly because I get a match at work, partly because it is tax deferred, and partly because a CD paying 2% is a guaranteed loss due to inflation and taxes so at least I have a fighting chance to win. This is money I don't need for 20-30 years though. I have 6 months of living expenses in guaranteed cash investments (FDIC savings accounts and cash). A year probably wouldn't be a bad idea.
Nobody knows what the money wasting program will yield, but we do know it won't deliver as promised.
The key thing is to not make a decision during an emotional state and don't act irrationally based upon what you read or watch. Be able to clearly and rationally explain any move based upon long-term expectations. Another key is true diversification - not what the Fidelity guy will tell you (and I like Fidelity). Real estate, stocks, bonds, metals, guaranteed annuities are all fair game.
On a final note, be careful with bonds. If you go there, you probably want to buy actual bonds instead of bond funds - and be able to hold them to maturity. Find insured bonds of the timeframe you are looking for. Bond funds can be hammered just like stock funds. If you own the actual bond, as long as they don't go bankrupt on you, you can always hold until maturity. Many municipal bonds are backed by tax revenue or guaranteed through some sort of collateral - and are paying a pretty good return.
Many are the investors who have seen their bond fund tank 20-30% (or more) and thought it was "safe."
